FRED. OLSEN WINDCARRIER ASA: årsregnskap 2023 vs 2022
Grew 80% on revenue, stronger earnings
approved 2024-05-22; registry 2024-06-25; journal 2024 501814
Summary
What changed
Comparing Årsregnskap 2023 with 2022 for FRED. OLSEN WINDCARRIER ASA. Revenue 17.16m NOK → 30.84m NOK (+79.6%). Net result +16.0k NOK → +1.48m NOK. Equity 9.20m NOK → 199.2k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for FRED. OLSEN WINDCARRIER ASA.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 17.16m NOK to 30.84m NOK (+79.6% YoY). Calculated
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Operating result improved
Operating result -250.0k NOK → +616.0k NOK (op. margin -1.5% → 2.0%). Calculated
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Net result improved
Net result +16.0k NOK → +1.48m NOK (net margin 0.1% → 4.8%). Calculated
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Cash rose
Bank deposits 6.33m NOK → 7.26m NOK (+14.6% YoY). Calculated
What deteriorated
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↓
Equity eroded
Book equity 9.20m NOK → 199.2k NOK (equity ratio 2182.0% → 0.1%). Calculated
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Current ratio dropped below 1×
Current ratio 466.93× → 0.15× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 9.90m NOK → 10.30m NOK (58% → 33% of revenue). Calculated
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COGS moved
COGS / varekostnad 62.72m NOK → 95.63m NOK (+52.5% YoY). Calculated
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Book investments changed
Investment / intangible book value 360.3k NOK → 356.99m NOK. Reported fact